The coming fallout following China’s “condensed development model” of economic growth and the transformation of China’s mode of economic growth

摘要

Abstract Starting from the comparisons of international industrialization history, we suggested that the successful successor economic entities have experienced significant economic fallouts when GDP per capita reached US$11,000 after rapid economic growth resulting from the condensed development. By learning from the international empirical evidence and by analyzing China’s potential for growth, we suggested that China will enter slow growth stage around year 2015. Therefore, the current development mode has to change in terms of growth structure and economic system.